Collection Industry News

AUGUST 17, 2023

Other balances, which include retail cards and other consumer loans, increased by $15 billion. About 39,000 individuals had new foreclosure notations on their credit reports, a very small increase from the first quarter. New foreclosures have stayed very low since even since the CARES Act moratorium was lifted.

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Better Credit Blog

AUGUST 7, 2020

If you’ve come across the name SYNCB on your credit report, it’s probably because you applied for a credit card with the bank or one of its popular retail partners. The online bank is known for its extensive lineup of credit cards for popular retailers, including: Amazon. Foreclosure. What Is SYNCB? American Eagle. Charge offs.

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Collection Industry News

MAY 30, 2022

The CFPA includes a long list of exemptions to the CFPB’s authority, such as: merchants; retailers; accountants and tax preparers; attorneys engaged in the practice of law; persons regulated by the Securities and Exchange Commission; persons regulated by the Commodity Futures Trading Commission; and auto dealers.

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Troutman Sanders

MARCH 8, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Representative Madeleine Dean reintroduced the Fair Debt Collection Practices for Servicemembers Act. For more information, click here.

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Better Credit Blog

DECEMBER 31, 2020

Whenever you apply for a retail credit card, it can lower your credit score by a few points and result in a new entry being added to your report. Citi is a popular bank that provides credit cards for a wide range of retail stores like The Home Depot. Collections agencies. Foreclosure. What Is THD/CBNA On My Credit Report?

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Retail Lender Loans Repossession 52

Better Credit Blog

FEBRUARY 25, 2021

First Federal is most likely on your report as a collections entry because of an unpaid bill. Because collections accounts can lower your credit score, it’s important to act quickly to get them off your report. Fortunately, FFCC is a legitimate third-party debt collection agency. Healthcare. Financial institution.

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Better Credit Blog

JANUARY 22, 2021

Department Stores National Bank issues retail credit cards for shoppers at Macy’s and Bloomingdale’s. If you applied for one of these retail credit cards, whether in-store or online, you signed off on a hard inquiry. Debt collections. Foreclosure. DSNB Bloom On My Credit Report. Dispute the Hard Inquiry. Charge-offs.

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Better Credit Blog

DECEMBER 31, 2020

While VCTRSSEC might sound unfamiliar, it represents a popular retailer: Victoria’s Secret. Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers. Debt in collections. Foreclosures. Comenity Bank/VCTRSSEC On My Credit Report. Late payment history.

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Better Credit Blog

DECEMBER 9, 2020

Belk/Synchrony Bank may show up on your report if you apply for a Belk retail credit card. Belk is one of the dozens of retailers that Synchrony Bank has a partnership with. However, if you did not apply for a retail credit card, you could be the victim of identity theft or faulty reporting. Collections-stage debt.

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Better Credit Blog

FEBRUARY 12, 2021

The longer you ignore a collections entry, the more damage it can do to your report. Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association. Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association.

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Better Credit Blog

OCTOBER 28, 2020

Its credit card offerings are among its most popular products, as the bank partners with dozens of retailers, including Toys R Us. If R Us Credit Card SYNCB or R Us Credit Card appears on your report, it’s likely the result of a retail credit card application. Collections entry. Foreclosure. Charge off. Repossessions.

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Better Credit Blog

NOVEMBER 23, 2020

When a missed payment goes into collections, it can make your daily life stressful and wreak havoc on your credit score. Whether it’s for a $50 cable bill or a $5,000 hospital bill, a collections entry will stay on your credit report for seven years. or FMS Corp, is a third-party debt collection agency headquartered in Tulsa, Oklahoma.

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Better Credit Blog

DECEMBER 18, 2020

The entry is most likely on your report as a hard inquiry, which happens when you apply for a retail credit card. Comenity Bank is one of the nation’s leading producers of branded retail credit cards, with over 145 cards on offer. Debt in collections. Foreclosure. Cb/Vicscrt On My Credit Report. Bankruptcy. Charge offs.

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Better Credit Blog

DECEMBER 2, 2020

Badcock is a large furniture retailer with more than 320 stores across 8 different states. Like many retailers, it offers financing for its products. Debt collection. Foreclosures. Below, we’ll take a closer look at how Badcock’s financing options work and how they might influence your credit. Charge offs. Repossessions.

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Better Credit Blog

DECEMBER 9, 2020

When you apply for a retail credit card from Best Buy, it can lead to a hard credit check and lower your score. Hard inquiries happen whenever you apply for funding from a bank, retailer, or lender. Debt in collections. Foreclosure. Did you notice a new entry on your credit report from BBY/CBNA? Charge offs. Repossession.

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Better Credit Blog

NOVEMBER 17, 2020

The bank also partners with 25 companies to offer rewards credit cards across different industries, including entertainment, travel, and retail. Collections. Foreclosures. Along with providing savings and CD accounts, Barclays offers personal loans by invitation in partnership with other companies. Barnes & Noble.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts. Collections-level debt. Foreclosure. But if you did apply for a card or credit account from the popular retailer, there’s nothing to worry about. Home Depot CBNA is the credit reporting code for Home Depot Citibank North America. Charge offs. Bankruptcy.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts, they partner with The Home Depot and dozens of other popular companies. Collections-level debt. Foreclosure. But if you did apply for a card or credit account from the popular retailer, there’s nothing to worry about. Charge offs. Bankruptcy. Repossession.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Collection-stage debt. Foreclosure. The card can be used to earn rewards at Banana Republic’s partner brands, as well, including: Gap. How Do Hard Inquiries Work? Charge-offs. Repossessions.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Collection-stage debt. Foreclosure. The card can be used to earn rewards at Banana Republic’s partner brands, as well, including: Gap. How Do Hard Inquiries Work? Charge-offs. Repossessions.

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Debt RR

DECEMBER 13, 2019

There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail. When faced with mounting debt, it’s inevitable that someone will come to collect. When courts get involved, debt collection gets serious. Distressed homeowners who successfully fought foreclosure lawsuits stemming from the 2010 U.S.

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Better Credit Blog

NOVEMBER 23, 2020

The company also provides retail, commercial, and automotive screening, but on a smaller scale. Collections-stage debt. Foreclosure. As mentioned above, ACRAnet specializes in consumer reporting, primarily running credit checks for: Mortgage Services. Tenant Screening. Employment Vetting. Charge offs.

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Better Credit Blog

NOVEMBER 19, 2020

They also have partnerships with major retailers nationwide like TJ Maxx, with whom they issue rewards credit cards. Collections accounts. Foreclosures. You may be less familiar with SYNCB , though the name belongs to a popular bank. Some of the issues they can help out with include: Bankruptcy. Charge offs. Late payments.

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Better Credit Blog

JANUARY 29, 2021

If you didn’t apply for a retail card from Macy’s, the inquiry could be a mistake, or it may be the work of an identity thief. Debt collections. Foreclosure. If so, you shouldn’t be alarmed when you see a Macys DSNB entry on your credit report. Charge offs. Late payment history. Repossession.

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Better Credit Blog

JANUARY 15, 2021

Collections records. Retail financing. Foreclosure. To do so, they provide detailed data that includes not just one’s credit report but also their: Car title. Installment payments. Rent to own agreements. When your credit report is accessed in the application process for a loan, a hard inquiry is placed on your credit report.

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Better Credit Blog

JANUARY 6, 2021

The popular retailer provides two credit card options: The Brooks Card and the Brooks Brothers Platinum Mastercard. Collections. Foreclosure. If you applied for one of Brooks Brothers’ credit cards, it’s likely to blame for the BRKSB/CBNA entry on your report. BRKSB/CBNA On My Credit Report. Charge-offs. Poor payment history.

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Better Credit Blog

DECEMBER 28, 2020

Shop Your Way is a Mastercard issued by Citibank that offers rewards points that can be redeemed on thousands of products from popular retailers. Collections. Foreclosure. SYWMC CBNA is short for the Shop Your Way credit card from Citibank. They can analyze your credit report, finding and disputing inaccurate entries.

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Better Credit Blog

DECEMBER 23, 2020

Among its extensive lineup of banking products, the institution offers credit cards in partnership with dozens of big-name brands and retailers. Collections-stage debts. Foreclosure. SYNCB is short for Synchrony bank. Formerly PayPal Bill Me Later, PayPal Credit is a reusable line of credit. Charge offs. Late payments.

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Better Credit Blog

NOVEMBER 30, 2020

DSNB issues two types of cards in partnership with these retailers: American Express cards. Collections entries. Foreclosure. AMEX/DSNB represents American Express/Department Stores National Bank. Department Stores National Bank issues credit cards for Bloomingdale’s and Macy’s. In-store only cards. Charge offs. Late payment.

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Lender Repossession Loans Banks 52

Better Credit Blog

OCTOBER 28, 2020

eBay Mastercards are issued by Synchrony Bank, a massive national bank offering several retail cards. Collections. Foreclosures. If eBay Mastercard/SYNCB has popped up on your credit report, it’s most likely because you applied for the card. How Long Will a Hard Credit Check Stay on My Report? Charge offs.

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Troutman Sanders

MAY 9, 2023

Strengthen Retail (Consumer) Investor Protections. The bill would require digital asset firms to publish and distribute a prospectus that includes material information related to the firm’s business, financial condition, results of operations, risk factors, and conflicts of interests. HB1349 will take effect on July 23.

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Troutman Sanders

JANUARY 30, 2023

On January 26, the Securities and Exchange Commission (SEC) rejected Cboe BZX Exchange’s (BZX) request to list and trade Ark 21Shares, the proposed spot-Bitcoin exchange traded fund (ETF) managed by asset managers ARK Investment Management and 21Shares (collectively hereinafter, the “trust). For more information, click here.

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Troutman Sanders

DECEMBER 4, 2023

The Senate Banking Committee questioned Chopra on the CFPB’s oversight of financial institutions providing benefits under the Servicemembers Civil Relief Act (SCRA), medical debt collection, so-called “junk fees,” and the increasing popularity of buy now, pay later (BNPL) products. For more information, click here.

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Troutman Sanders

JULY 26, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. PST, the California Department of Financial Protection and Innovation will hold the inaugural meeting of its Debt Collection Advisory Committee.

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